Being own solicitor

ViolaLass

Selling house, no mortgage, got time on my hands (but no legal training). Not buying new house.

I gather from Google that it's legally possible to do the solicitor work myself but is it wise? MSE or a road of pain? Anyone else done it?

ReadingTim

The problem with some of the more extreme examples of moneysaving is that you can become someone who knows the cost of everything and the value of nothing.

I think this is an example of that.

DaftyDuck

I know some of the regulars will shout at me, but if you are selling, have time, and have some wits about you, use an online solicitor.... I never would for buying, but for selling, it's fine. It will give considerable financial security to your transaction, and you'll have the time to cross-check and harry as required.

You should be able to get a fixed-price sale (no fee no sale as well) for well under £500, £350 if you press them.

victoriavictorious

Yes technically it is possible. I did my own on three occasions, including buying and selling a leasehold flat, in the 80s/early 90s. (I'm not a legal eagle, I'm a fashion designer!)
However, times have changed, there was no internet, or at least it wasnt widely used, there was less opportunity for fraud, money laundering, etc etc.
The process is much more security-conscious now, with all manner of Data Protection issues too that didn't exist back then, so imo, it simply isnt worth the hassle you are going to get. And trust me, you will.
Whilst there is nothing to prevent you doing your own conveyancing in theory as far as the law is concerned, you are going to come up against a myriad of obstructions, not least from your future buyer's solicitor who will likely refuse to work with you, plus your buyer's lender, etc etc. The list of people ready to make your life very hard indeed if you dont 'tow the line' and get a solicitor is going to be endless.
Even without the obstacles as above, your buyer and their solicitor will be suspicious of a DIYer and you've got to be a person who enjoys fine detail and form filling (which luckily I do!)

As for saving money, I'm afraid it's not as great as it might seem - maybe a few hundred pounds.
And most importantly, you have to be a thousand per cent sure youve got absolutely everything right and have checked, checked and rechecked as theres just too much to risk if it goes pear shaped.

I think anyone of reasonable intelligence and literacy (plus of course an interest in the subject) should be just as capable - if not more than, an online conveyancer of doing this.
But try telling that to those you will be dealing with.
Would I do it today?
Not on your Nellie.

Tom99

[FONT=Verdana, sans-serif]I have bought and sold before, years ago, but I would 100% agree with the above comment that these days it is not worth the hassle[/FONT]

hjghg5

I*am* a solicitor (different area of law) and am currently selling a mortgage free property (inherited, not moving house or anything like that), and wouldn't dream of trying to do it myself!

steampowered

I think there is too much scope for running into problems.

The buyer's solicitor may refuse to send money to you.

You won't be in a position to give a proper response to any issues identified by the searches or enquiries.

Given the value of a house, I don't think it is worth the risk of messing up the sale and losing your buyer for the sake of saving a few hundred quid.

ViolaLass

Thanks all for your views.

ReadingTim

You could always give DIY dentistry a try if you're looking for something to do....